In general, who will benefit as the result of a tariff? I. Domestic producers II. Domestic consumers III. The domestic government
A) I only
B) II only
C) both I and III
D) both II and III
E) All of the above are correct.
C
Economics
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If a firm buys a delivery van for $18,000 and can resell it in 2 years for $7,500, the sunk cost is
A) $10,500. B) $7,500. C) $18,000. D) $0.
Economics
If nominal GDP rises from one year to the next, then
a. the economy must be producing a larger output of goods and services. b. prices at which goods and services are sold must be higher. c. either output, or the general level of prices, or both must be rising. d. employment and productivity must be rising.
Economics